Singapore Airlines (SIA) has sealed a deal with the Formula One Group to be the title sponsor of the Singapore Grand Prix. This year's marquee race will be named the "2014 Formula 1 Singapore Airlines Singapore Grand Prix".Singapore Airlines (SIA) has sealed a deal with the Formula One Group to be the title sponsor of the Singapore Grand Prix. This year's marquee race will be named the "2014 Formula 1 Singapore Airlines Singapore Grand Prix".SIA takes over as title sponsor from SingTel, which held the sponsorship since the inaugural race here in 2008.In a statement, SIA CEO Goh Choon Phong said: "We are thrilled to be taking up the title sponsorship of one of the most exciting races on the F1 calendar, and we are especially pleased to be doing so in the lead-up to Singapore's 50th birthday next year.

"Singapore Airlines has always supported the development of both sports and tourism. Through our involvement with the world's first F1 night race, we will be able to enhance both for the benefit of Singaporeans and visitors alike," he added.Formula One Group CEO, Bernie Ecclestone said: "We are very happy to have Singapore Airlines join the Formula One family by becoming the title sponsor of the extremely popular Formula 1 Singapore Grand Prix, which was the first Formula 1 night race.